Zumiez said Monday it has more than doubled the salary of CEO Rick Brooks, who typically lands on the bottom of the list of salary charts for the CEOs of publicly-traded retail companies.
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The board raised Rick’s base salary from $262,500 to $613,200.
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“The decision to increase Mr. Brook’s salary was made by the Compensation Committee in light of Mr. Brook’s contributions to the Company over the last 18 years, the strong financial performance of the Company in fiscal 2010 and in order to bring Mr. Brook’s salary closer to the 40th percentile peer group target, which is in line with the Company’s overall compensation philosophy,” the company said in a filing with the SEC.
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Zumiez outperformed nearly every retailer in America in 2010 and Rick successfully led the company through the economic downturn. He is also a major stockholder at Zumiez.
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To see what other CEOs in the action sports industry earn, see our series about Executive Compensation.
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